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Here is why Xeris Pharmaceuticals Inc (XERS) stock turnaround on Thursday

EBIX Stock

EBIX Stock

Xeris Pharmaceuticals Inc. (XERS) shares gained 5.17% to trade at $4.07 in after-market on Thursday, April 29, 2021. Earlier, XERS’s stock lost 3.97% to close Thursday’s session at $3.87. XERS shares have risen by 46.04% over the last 12 months, and they have moved down 0.26% in the past week. Over the past three months, the stock has lost 25.72%, while over the past six months, it has shed 24.41%.

Let’s see is there any reason behind its flip on Thursday?

Speculations about its upcoming Q1 earnings

The market expects Xeris Pharmaceuticals (XERS) to deliver an increase in earnings on higher revenues when it reports results for the quarter ended March 2021.

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But according to Zacks estimates. The company can post a quarterly loss of $0.31 per share in its upcoming report. Also, Revenues are expected to be $7.57 million, according to Zacks.

Ogluo approval by U.K. MHRA

On April 29, 2021, Xeris Pharmaceuticals, Inc. said that its Ogluo® (glucagon) injection has been approved by the United Kingdom’s Medicines and Healthcare Regulatory Agency (MHRA).

Ogluo® (glucagon) is used for the treatment of severe hypoglycaemia in adults, adolescents, and children aged 2 years and over with diabetes mellitus.

Glucagon injection, Gvoke is the first prescription, ready-to-use, pre-mixed, pre-measured glucagon injection was approved by the FDA in September 2019 for use in the United States.

Inducement Grants

On March 31, 2021, the Compensation Committee of Xeris granted restricted stock units for an aggregate of 15,250 shares of its common stock to 10 new employees under Xeris Inducement Equity Plan.

Recent financial result announcement

On March 8, 2021, Xeris Pharmaceuticals reported its financial results for the fourth quarter and full-year 2020.

Q4 2020 financial highlights

FY 2020 financial highlights

Conclusion

The approval of Ogluo in the UK is an important development forXeris Pharmaceuticals which was the reason behind its turnaround on Thursday. XERS stock can further go up in the coming days.

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